Two Sigma Investments LP reduced its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 13.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 202,418 shares of the company's stock after selling 32,630 shares during the quarter. Two Sigma Investments LP owned approximately 0.33% of Acushnet worth $14,388,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company's stock valued at $25,000 after purchasing an additional 176 shares during the period. Lazard Asset Management LLC bought a new stake in Acushnet in the 4th quarter valued at $51,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in Acushnet by 39.6% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock valued at $58,000 after purchasing an additional 232 shares during the period. Berry Wealth Group LP bought a new stake in shares of Acushnet during the 4th quarter valued at $202,000. Finally, Hyperion Capital Advisors LP bought a new stake in shares of Acushnet during the 4th quarter valued at $206,000. 53.12% of the stock is currently owned by institutional investors.
Acushnet Trading Down 1.5%
Shares of GOLF stock traded down $1.05 on Wednesday, hitting $69.38. The company had a trading volume of 48,503 shares, compared to its average volume of 378,482. The firm has a market cap of $4.08 billion, a P/E ratio of 23.64 and a beta of 0.90. The stock's 50-day moving average is $65.23 and its two-hundred day moving average is $68.11. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. Acushnet Holdings Corp. has a twelve month low of $55.31 and a twelve month high of $76.65.
Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.30. The company had revenue of $703.37 million during the quarter, compared to analysts' expectations of $697.82 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.35 earnings per share. On average, equities research analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.
Acushnet Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.235 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.35%. Acushnet's dividend payout ratio is presently 26.11%.
Analyst Ratings Changes
A number of analysts have recently weighed in on GOLF shares. Truist Financial upped their target price on Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. KeyCorp upped their price objective on Acushnet from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Finally, Compass Point downgraded Acushnet from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $80.00 to $71.00 in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $70.00.
View Our Latest Report on GOLF
Insider Activity
In other news, insider Steven Francis Pelisek sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the transaction, the insider now owns 96,006 shares in the company, valued at $6,802,985.16. This trade represents a 17.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 54.60% of the company's stock.
About Acushnet
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Free Report)
Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.
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